Van Bortel not only sells the planes but also offers financing as their is a place on their site to fill out finance applications. Van Bortel Aircraft Inc is the self-proclaimed "world's largest cessna dealer" and so it make sense that they would have an aircraft loan calculator on their site. There is also an advertisement for AOPA Aviation Finance so there may be an affiliation between the two companies. They also have a very simplified aircraft loan calculator that offers to calculate a users loan payment if the user enters the interest rate, loan term in years, and the amount of the loan. Aero TraderĪero Trader is an online marketplace to post airplanes and other aircraft for sale. Similar to AOPA, a person can visit their site in order to find requirements to fill out to apply for a loan. The National Aircraft Finance Company(NAFCO) has been in business since 1987 and is an affiliate of Pilot Bank headquarterd out of Tampa Bay Florida. There's no loan amortization table or any other features. The user puts in the loan amount, interest rate, and number of years on the loan and then it calculates a monthly payment for the user. However, they have a loan calculator that is extremely simplified. The National Aircraft Finance Company is also an aircraft loan lender similar to AOPA. A person can select Kits, light sport, piston single, piston twin, turboprop and turbine, helicopter, warbird and antiques and the calculator will adjust to show the minimum down payment required for the type of air plane. They also have required down payments based on the type of aircraft a person selects. They also calculate a persons range of payments for a 20 year, 15 year, and a 10 year loan which gives the user a broad understanding of how loan term may affect their payment. Their calculator selects a range of interest rates based on the type of aircraft a person selects and calculates a payment within that range.
Because AOPA is an aircraft lender themselves, this has allowed them to incorporate actual interest rates and loan length/terms into their calculator based on the aircraft type. AOPA FinanceĪOPA Finance provides an aircraft loan calculator to their site vistors. The charts graph the loan balance, the principal and interest, and the aircraft value during the life of the loan. Lastly, don't forget to check out the charts and graphs by clicking the buttons just above the amortization table. The user can enter a purchase price and an annual depreciation rate in order project how an aircraft may depreciate over time. These numbers give the user totals in order to avoid have to scroll all the way to the bottom of the table.Īnother feature is the aircraft value column in the table. Right above the amortization table, there are 4 large numbers.
In addition, the user is able to enter an extra monthly payment in the extra monthly payment field and the amortization schedule automatically updates with this information. In addition to calculating the monthly payment an entire amortization table will populate with a loan schedule dividing payments into principal and interest. This aircraft loan calculator requires the user to enter their loan amount, loan term in years, and interest rate in order to calculate their monthly payment. We may be biased, but we really like our aircraft loan calculator. Here is a list of aircraft loan calculators in no particular order: IQ Calculators - Aircraft Loan Calculator So each of these calculators are fixed interest rate calculators but they still help the person buying the aircraft estimate payments on a loan if not for the entire loan, then at least the beginning of it. That said, aircraft calculators won't be able to model a floating rate loan as that would require the calculator to know what interest rates will be in the future.and there's nobody that knows that. This is especially true if an aircraft buyer opts for a floating rate loan tied to an interest rate market like the LIBOR.these floating rate interest rates tend to be a bit lower than a fixed rate interest loan.
With interest rates at all time lows, it makes sense for some to borrow the money so that their other money can earn higher rates. For those who are thinking of purchasing an airplane, helicopter or some other type of aircraft, it is possible that they might want to finance the purchase.
0 kommentar(er)
